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Glimcher Realty Trust Closes $90 Million Preferred Share Offering

Glimcher Realty Trust (NYSE: GRT) today closed the underwritten public offering of 3,600,000 of its 6.875% Series I Cumulative Redeemable Preferred Shares (the “Series I Preferred Shares”) with a liquidation preference of $25.00 per share. The offering generated net proceeds to the Company of approximately $86.8 million, after deducting the underwriting discounts and commissions and estimated offering expenses payable by the Company. The Company intends to use the net proceeds to redeem 3,600,000 of Series G Cumulative Redeemable Preferred Shares.

The Company has filed an application to list the Series I Preferred Shares on the New York Stock Exchange under the symbol “GRTPRI”. Trading of the Series I Preferred Shares on the New York Stock Exchange is expected to begin within 30 days after the initial issuance of the Series I Preferred Shares.

Wells Fargo Securities, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint book-running managers. Jefferies LLC, Raymond James & Associates, Inc. and Stifel, Nicolaus & Company, Incorporated acted as co-managers for the offering.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering may be made only by means of a prospectus supplement and related prospectus. Copies of the prospectus supplement and related prospectus for this offering may be obtained by contacting Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, NC 28262, Attention: Capital Markets Client Support, telephone (800) 326-5897 or e-mail request to cmclientsupport@wellsfargo.com; or Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 11 th Floor, New York, NY 10038, Attention: Prospectus Department; telephone (800) 294-1322 or e-mail a request to dg.prospectus_requests@baml.com.

About Glimcher Realty Trust

Glimcher Realty Trust, a real estate investment trust, is a recognized leader in the ownership, management, acquisition and development of retail properties, including mixed use, open-air and enclosed regional malls as well as outlet centers. Glimcher owns material interests in and manages 29 properties with total gross leasable area totaling approximately 21.7 million square feet.

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